Indus Motor Company approves Rs3bn investment to expand localisation 

The Board of Directors of Indus Motor Company Limited, operating as Toyota Indus, has approved an investment of around Rs 3 billion aimed at additional localisation of parts and components of various existing vehicles, the company said in a notice to the Pakistan Stock Exchange (PSX) on Thursday.   

The board took this decision in its meeting held on February 21, 2024, and is part of the company’s overall plan to continuously increase localisation of parts and components of vehicles manufactured locally, in order to reduce the outflow of foreign exchange and promote the local auto industry, read the notice. 

The announced investment shall be made towards expenditure in plant and machinery, molds, dies, equipment and related expenses for localization of parts and components to be manufactured locally for various existing vehicles. 

The investment is planned to be completed by the third quarter of calendar year 2025.